Compagnie Financiere Tradition Posts Financial Results for Q2 2021
Compagnie Financiere Tradition(CFT), one of the world's top interdealer broking firms, with a presence in 30 countries, posted its financial results for the second quarter of 2021, showing a significant drop in revenue from the corresponding period in 2020.
More specifically, the broker registered a revenue of CHF 213.3 million, down 9% from a year earlier.
On an adjusted basis, revenue stood at CHF 231.8 million, decreased by 8.4% at a constant exchange rate compared with CHF 254.5 million in the previous year.
Moreover, the company detailed that the adjusted revenue from its interdealer business (IDB) went down by 8.6 percent in the quarter, while figures generated by the forex trading business for retail investors in Japan (non-IDB) declined by 2.4 percent, both at constant exchange rates.
In terms of the half-yearly results, the broker reported a revenue of CHF 452 million. That number for Q2 2020 was CHF 512.8 million. The adjusted revenue came in at CHF 491 million, down 9.9% on constant rates. In addition, consolidated revenue from the IDB and non-IDB businesses went down by 9.8 percent and 13.8 percent, respectively.
“The activity of the first semester 2021 should be put into perspective with the exceptional volume of activity in the same period last year, particularly in March and to a lesser extent in April. Indeed, the gradual health crisis resulting from COVID-19 had caused very high volatility in the financial markets positively impacting the Group’s revenue,” the company commented on these results.
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